Bitcoin

Joe Manchin

U.S. Senator Who Wanted to Ban Bitcoin Has Backed Off a Bit

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A previous outspoken critic of Bitcoin says he’s starting to come around on the virtual currency, one month to the day after he called on regulators to ban it. In an interview with the Washington Post, Sen. Joe Manchin (D-W. Va.) said recent moves by the Internal Revenue Service, private Bitcoin entrepreneurs and other government […]

Bitcoin and the Government

IRS Will Tax Bitcoin as Property, Not Currency

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The federal government will tax digital money such as Bitcoin like property, not currency, the IRS said Tuesday in its first significant guidance on the virtual coin. Although Bitcoin may operate like coin and paper currency and can be used to pay for goods and services, no country accepts it as “legal tender,” the Internal […]

Mt. Gox

Mt. Gox Finds 200,000 Bitcoins (~$116 Million) in ‘Unused Wallet’

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Mt. Gox has discovered 200,000 missing bitcoins in a wallet no longer in use, the troubled Bitcoin exchange announced Thursday, reducing the number of missing bitcoins from 850,000 to 650,000. “We believed there were no bitcoins left in old wallets, but found 199,999.99 bitcoins on March 7,” Mt. Gox Chief Executive Officer Mark Karpeles said […]

Mt. Gox

A Mt. Gox Update Lets Users See Their Bitcoin Balance

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Mt. Gox, the embattled Bitcoin exchange, has updated its Web site to allow its users to see account balances. The Japan-based company opened user accounts for inquiry on Tuesday, but cautioned that the amount of bitcoins they seemingly have would not “constitute a filing of rehabilitation claims.” The wording on the Mt. Gox web site […]

Mt. Gox

Mt. Gox CEO: We Traded Non-Existant Bitcoins for Two Weeks

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MtGox continued trading for at least two weeks despite knowing that it did not hold enough bitcoins to return every customer their money, according to a deposition from the CEO of the embattled bitcoin exchange. Mark Karpeles, MtGox’s chief executive, gave the deposition to the Northern District of Texas bankruptcy court on Monday 9 March. […]